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Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Summary of Fair Value Balances

The following table summarizes the fair value balances (in thousands):

 

 

 

 

 

Fair Value Measurement at

 

 

 

 

 

 

September 30, 2025

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Company owned life insurance policies (1)

 

$

26,518

 

 

$

—

 

 

$

26,518

 

 

$

—

 

 

$

26,518

 

 

$

—

 

 

$

26,518

 

 

$

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation liabilities

 

$

20,536

 

 

$

—

 

 

$

20,536

 

 

$

—

 

 

$

20,536

 

 

$

—

 

 

$

20,536

 

 

$

—

 

 

 

 

 

 

 

Fair Value Measurement at

 

 

 

 

 

 

December 31, 2024

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Company owned life insurance policies (1)

 

$

25,435

 

 

$

—

 

 

$

25,435

 

 

$

—

 

 

$

25,435

 

 

$

—

 

 

$

25,435

 

 

$

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation liabilities

 

$

19,103

 

 

$

—

 

 

$

19,103

 

 

$

—

 

 

$

19,103

 

 

$

—

 

 

$

19,103

 

 

$

—

 

(1) Company owned life insurance policies have cash surrender value and are intended to assist in funding deferred compensation liabilities and other benefit plans.